2759 Mt Pleasant St, Burlington, IA 52601-2137
This exceptional 4.29-acre property, located at 2759 Mt. Pleasant St in Burlington, Iowa (zip code 52601), presents a unique investment opportunity. The property, a former Howard Johnson's restaurant, boasts a prime location just off Highway 61, offering convenient access and high visibility. Its proximity to the Catfish Bend Casino and the Mississippi River ensures significant foot traffic and potential for a thriving business. The two-story building, constructed in 1969, features ample parking with 164 spaces. While the previous use was a 154-room hotel with 98 operational rooms at the time of closure, the property is currently being offered as a restaurant opportunity. The substantial lot size provides significant expansion potential or the possibility of developing complementary businesses. The asking price for this remarkable property is $2,900,000. This is a rare chance to acquire a well-situated, sizeable property with significant historical significance and redevelopment potential in a desirable location. The property's unique history and ample space offer a blank canvas for a creative entrepreneur to establish a successful and memorable establishment. The existing infrastructure provides a solid foundation for a variety of restaurant concepts.
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Howard Johnson by Wyndham Burlington Hotel & Motel
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2021Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.